BTC/USD Fluctuates Between $45K and $48K as Bitcoin Holds Above $45K

BTC Price Remains Stable as Bitcoin Holds Above $45K – March 31, 2022

Today, BTC’s price has risen from the low of $44,234 to $46,740 high as Bitcoin holds above $45K. BTC price is facing rejection at the $47,000 resistance zone. BTC price corrected upward but is stuck between the moving averages. BTC/USD is trading above the 50-day line but below the 21-day line moving average.

Resistance Levels: $70,000, $75,000, $80,000 Support Levels: $50,000, $45,000, $40,000

Today, BTC price corrected upward to the high of $46,740 but was resisted. The bears are pushing the coin down to the breakout level of $45,400. On the upside, if price rebounds above the $45,400 support, the market will rally to the $48,000 resistance level. The bulls will attempt to break the $48,000 resistance level. A break above the $48,000 resistance level will catapult Bitcoin above the $50,000 psychological price level. Nonetheless, if BTC’s price falls to rebound but holds above the $45,400 support, Bitcoin will be compelled to a range-bound move between $45,400 and $48,000 price levels.

Kraken Users Report Bitcoin Lightning Network Availability

Kraken officially announced plans to integrate the Bitcoin Lightning Network in late 2020. The exchange will schedule its implementation for 2021 which has drawn some crypto observers to think that Kraken is taking long to integrate Lightning as some candidates for the United States Congress have managed to adopt it before. Kraken’s Bitcoin product manager Pierre Rochard has explained that the exchange has successfully implemented the Lightning Network, providing its clients with an instantaneous settlement of BTC transactions. He said: “Bitcoin has proven to be an effective store of value over the last decade and is now seeing increased use as a borderless global currency […] Withdrawing to a Lightning mobile wallet is a seamless process and accelerates BTC adoption as a medium of exchange.

Meanwhile, the BTC price has corrected upward as Bitcoin holds above $45K. The crypto’s price is confined between the moving averages. The cryptocurrency is likely to be in a range-bound move for a few more days.

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